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Contents 4. BRAND STRATEGY Using this guide …

Contents Using this guide 4. BRAND STRATEGY . Introduction Checklist A strong BRAND will look after itself.. Case studies Use bookmarks in the left-hand panel to navigate this guide . click on the bookmarks tab on the left of your screen or [F5]. Search for specific words by Using : Ctrl + F (PC) or Apple = F (Mac). To Branding website The Chartered Institute of marketing 2003. 4. BRANDS STRATEGY . HOME. eGUIDE 1 Contents Defining brands > Using this guide eGUIDE 2. > Introduction Types of brands eGUIDE 3 > What is STRATEGY How brands work > The difference between STRATEGY and eGUIDE 4 tactics BRAND STRATEGY > Who should be responsible for BRAND eGUIDE 5 STRATEGY Managing and revitalising brands > Elements of BRAND STRATEGY eGUIDE 6 > Considerations for BRAND STRATEGY BRAND portfolio and architecture > Importance of STRATEGY for brands eGUIDE 7 > Checklist Measuring brands and their performance > Case studies The above offline' links require all the eGuide pdfs to have been downloaded from the Branding website and placed in the same single folder on your hard disk.

To Branding website HOME Restating a goal is not strategy, execution is not strategy, and tactics are not strategy. © The Chartered Institute of Marketing 2003

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Transcription of Contents 4. BRAND STRATEGY Using this guide …

1 Contents Using this guide 4. BRAND STRATEGY . Introduction Checklist A strong BRAND will look after itself.. Case studies Use bookmarks in the left-hand panel to navigate this guide . click on the bookmarks tab on the left of your screen or [F5]. Search for specific words by Using : Ctrl + F (PC) or Apple = F (Mac). To Branding website The Chartered Institute of marketing 2003. 4. BRANDS STRATEGY . HOME. eGUIDE 1 Contents Defining brands > Using this guide eGUIDE 2. > Introduction Types of brands eGUIDE 3 > What is STRATEGY How brands work > The difference between STRATEGY and eGUIDE 4 tactics BRAND STRATEGY > Who should be responsible for BRAND eGUIDE 5 STRATEGY Managing and revitalising brands > Elements of BRAND STRATEGY eGUIDE 6 > Considerations for BRAND STRATEGY BRAND portfolio and architecture > Importance of STRATEGY for brands eGUIDE 7 > Checklist Measuring brands and their performance > Case studies The above offline' links require all the eGuide pdfs to have been downloaded from the Branding website and placed in the same single folder on your hard disk.

2 To Branding website The Chartered Institute of marketing 2003 2. 4. BRAND STRATEGY . HOME. Using this guide >Links Click on a highlighted word to navigate to a Navigation related page either in the guide or on the World Wide Web. There are a number of ways to make your way round this guide : >Search You can also search the guides Using >Bookmarks [Ctrl] + F for PC (or [Apple] = F for Mac). Gives a topic overview of the guide first to bring up the find' dialogue box and then select the bookmarks tab on the left of the simply type in your search term and click screen (alternatively use [F5] key), then the find' button. click on to a topic to link to the relevant HOME. page. >To home page Clicking on this icon, in the top right of every >Next/previous page page, will take you to the home page of this Clicking on the left or right of this icon, at eGuide.

3 The bottom right of each page, will enable you to move forward or back, page by page. >To other eGuides eGUIDE 2. Clicking on these icons, to be found on the >Tool bar Contents page and sometimes as a margin The tool bar at the bottom of the screen is icon, will take you to the home page of that another way to skip through pages, by particular eGuide if you have downloaded clicking on the arrows. the relevant pdf and stored it in the same folder. >Margin icons These icons, in the margins to the left of the >Back to main text BACK. main text, link to various types of Clicking the back' button will return you to information. See next page for a complete the point in the main text you were directed list of these margin icons. from. To Branding website The Chartered Institute of marketing 2003 3.

4 4. BRAND STRATEGY . HOME. >To Branding website >Further details Clicking on the @' icon at the bottom left of Indicates additional material on the same each page will take you to the home page of subject. this information may be located the Branding website. this link will only work within the same eGuide; in one of the other when you are online. six eGuides (in which case the link will only work if the pdfs of the other eGuides have Margin icons been downloaded into the same folder); or on a separate website (in which case the link We've added icons in the margins of the text will only work if the pdf is being viewed to highlight particular types of information: online). >Case study this signals a story that will illustrate theory applied in practice. Click on the icon to view the example and, once you have finished, select back' to return to where you were originally.

5 >Checklist Points to a summary page. >Resources Links through to the online BRAND Store section where you will find further resources on the topic being discussed. >FAQs Gives answers to frequently asked questions. To Branding website The Chartered Institute of marketing 2003 4. 4. BRAND STRATEGY . HOME. Introduction A strong BRAND will look after itself.. BRAND STRATEGY is one of the most fraught areas of marketing , though clearly also one of the most important. There are many problems with definition. The key point is you can't have Restating a goal is not a STRATEGY without a clear objective. Restating STRATEGY , execution is a goal is not STRATEGY , execution is not not STRATEGY , and tactics STRATEGY , and tactics are not STRATEGY . A BRAND cannot function without a STRATEGY and the are not STRATEGY .

6 Function of BRAND management is to implement BRAND STRATEGY . To Branding website The Chartered Institute of marketing 2003 5. 4. BRAND STRATEGY . HOME. What is STRATEGY ? it follows that differentiation is the key to competing in today's marketplace. BRAND The objective of STRATEGY is a sustainable STRATEGY therefore is a course of action to competitive advantage, which may come from differentiate an organisation or a product in any part of the organisation's operation. The stakeholders' minds. market is the judge of this advantage. BRAND STRATEGY is the process whereby the offer is > A BRAND 's longevity and strength has to be positioned in the consumer's mind to produce built less on price and more on a perception of advantage. [Arnold, 1992] differentiation. In markets cluttered with In markets cluttered messages, and where a certain level of > STRATEGY is essentially a discipline of quality of product and/or service is expected with messages, BRAND planning, of setting a course for the long by customers, BRAND owners have to find owners have to find term or to achieve a specific goal.

7 Ever new ways to foster loyalty. Consider ever new ways to foster how Richard Branson has managed to loyalty. > Its origins lie in game theory and the stretch the Virgin BRAND into areas far military. The dictionary definition is the beyond his original musical activities. science and art of conducting a military campaign in its large scale and long term aspects'. It is mainly used to refer to corporate STRATEGY and business STRATEGY . > It was made fashionable in the '80s by Michael Porter in his classic text, Competitive STRATEGY (1980), in which business is acknowledged as a competitive battle in which STRATEGY is essential to winning. Competitive advantage could either be achieved by low cost or differentiation. Since only one BRAND can be the cheapest, and physical product attributes are easily copied, To Branding website The Chartered Institute of marketing 2003 6.

8 4. BRAND STRATEGY . HOME. Figure : The branding iceberg'. The difference between STRATEGY and tactics WHAT YOU eGuide 5: Managing brands Symbol CAN SEE. > To view branding as naming, design or BRAND name advertising is too myopic and will shorten Presentation the BRAND 's life To take full Advertising advantage of brands as strategic devices, a Price considerable amount of marketing analysis and BRAND planning is required. But many companies are too embroiled in tactical Key assets WHAT YOU. High quality issues and so fail to gain the best possible and CAN'T SEE. competencies returns for their brands. [de Chernatony, L., McDonald, 1998]. Efficient production However, all those tactical aspects have to Strong R&D be carefully managed because if any element breaks down, the BRAND can be damaged Low cost operation and its strength come under attack.

9 High service levels > Branding goes well beyond names and symbols. Strong branding is the result of successful business STRATEGY . Davidson Strong supply chain Effective selling [1997] describes this as the branding iceberg' (see Figure ). Source: Davidson, H. (1997) Even More Offensive marketing . To Branding website The Chartered Institute of marketing 2003 7. 4. BRAND STRATEGY . HOME. What you can see above the water line of Who should be responsible for the iceberg are price, advertising, BRAND STRATEGY ? presentation, BRAND name and symbol. What's below are key assets and Corporate conviction and commitment offer competencies such as high quality, efficient the key to excellence in BRAND management production, strong R&D, low cost operations, and these are things that can originate only at high service levels, string supply chain and the highest level within a business, otherwise, effective selling.

10 Like a thinly-rooted plant, good practice will be washed away by the first winter storm.. [Sir George Bull, Market Leader, Spring 1998]. > For several decades marketing was characterised by powerful BRAND management systems that devolved marketing responsibility onto the shoulders of bright but young BRAND managers eager to make their mark quickly. They had substantial powers over the BRAND STRATEGY , image and positioning. BRAND STRATEGY [has > this is changing irrevocably as BRAND become] too STRATEGY becomes too fundamental a part of fundamental a part of a a company's worth to be left to a relatively self-contained marketing department. company's worth to be marketing is now too complex a discipline left to a relatively self- and one with too many cross-functional contained marketing implications for companies to entrust it department.


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